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DENTSPLY (XRAY) Q2 Earnings Beat Estimates, Sales Rise Y/Y

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DENTSPLY SIRONA Inc. (XRAY - Free Report) is one of the leading worldwide manufacturers’ dental consumables, dental laboratory products, dental specialty products and consumable medical device products. Post DENTSPLY-SIRONA merger, the business has been organized into two reporting segments: Dental & Healthcare Consumables and Technologies.

Currently, this York, PA- based company carries a Zacks Rank #4 (Sell) but that could change following its second quarter 2018 earnings report which has just released. (You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.) We have highlighted some of the key details from the just-released announcement below:

Earnings: DENTSPLY reported adjusted earnings of 60 cents per share, which came above the Zacks Consensus Estimate by a penny and was higher than earnings of 65 cents in the year-ago quarter.

Revenues: DENTSPLY’s net sales increased to $1.04 billion from $992.7 million in the year-ago period. Net sales increased 5% on a year over year basis.

This also came above the Zacks Consensus Estimate of $1.03 billion.

Net sales, excluding precious metals, increased 5.1% on a year over year basis to $1.03 billion.

DENTSPLY SIRONA Inc. Price and EPS Surprise

 

Important Details: In the second quarter, DENTSPLY recorded a goodwill and intangible impairment charge of $1.27 billion. Of this charge, almost $1.20 billion was in the Technologies and Equipment segment.

The Consumable Segment suffered charges worth $69 million for impairment.

Narrowed Guidance:The company narrowed its adjusted EPS guidance for 2018 to the range of $2.00 to $2.15 per share. Earlier, the company projected adjusted EPS in a range of $2.55 to $2.65.

Share Price:Following the earnings release, share prices plunged 18.5% in the pre-market trading session.

Check back later for our full write up on this DENTSPLY earnings report later!

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